South Dakota Statutes
§ 58-5-135 — Members of mutual insurer voting on merger or consolidation--Procedure--Limited right of members of life insurer.
The plan and agreement for merger or consolidation shall be submitted to and approved by at least two - thirds of the members of each mutual insurer involved voting thereon at meetings called for the purpose pursuant to such reasonable notice and procedure as has been approved by the director of the Division of Insurance. If a life insurer, right to vote may be limited to members whose policies are other than term and group policies, and have been in effect for more than one year.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 58-5-135 (Members of mutual insurer voting on merger or consolidation--Procedure--Limited right of members of life insurer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 16, § 39 (3).
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.